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Succeeding/Superseding Lease LEASE NO. GS-02P-LNY24262 GSA FORM L202 (September 2014)
This Lease is made and entered into between
REYNOLDS II, L P.
(Lessor), whose principal place of business is 16 East Main Street, Suite 240, Rochester, NY 14614-1808 with a malling address of 28 East Main Street, Suite 1530, Rochester, NY 14614-1929, and whose interest in the Property described herein is that of Fee Owner, and
The United States ofAmerica
(Government), acting by and through the designated representative of the General Services Administration (GSA), upon the terms and conditions set forth herein.
Witnesseth: The parties hereto. for lhe consideration hereinafter mentioned. covenant and agree as follows:
Lessor hereby leases to the Government the Premises described herein. being all or a portion of the Property located at
28 East Main Street, Suite 400 ak.a 1530 First Federal Plaza Rochester, New York 14614-1926
and more fully described in Section 1 and Exhibit A, together with rights to the use of parking and other areas as set forth herein, to be used for such purposes as determined by GSA.
LEASE TERM
To Have and To Hold the said Premises with Its appurtenances for the term beginning upon acceptance of the Premises as required by this Lease. and continuing for a period of
10 Years, 5 Years Firm,
subjed to termination aM FeAewal rights as may be hereinafter set forth. The commencement date of this Lease. along with aAy applicable termination aA~ FeAewal rights, shall be more specifically set forth in a Lease Amendment upon substantial completion and acceptance of the Space by the Government.
In Witness Whereof, the parties to this Lease evidence their agreement lo all terms and conditions set forth herein by their signatures below. lo be effective as of the date of delivery of the fully executed Lease to the L
Title: -----~-'-""""''-=~""-"~""' oate: _ ..... fl""-' "'--<z f. 'J..-+-,""'-io_____".--------- O~~......o 5........,e ~~ _rs
-:f-{' ........_.<;'Date: ______,___ , _ , C:-__ WITNESSED FOR THE LESSOR BY:
Name: - ----------------
Title:------------------
Dale: -------- ---------
LEASE NO. GS-02P·LNY24262 GSA FORM L202 (09/14)
SECTION 1 THE PREMISES, RENT, AND OTHER TERMS
1.01 THE PREMISES (SUCCEEDING) (SEP 2013)
Unless othe!Wise noted. the Govemment accepts the Premises and tenant improvements In their existing condition. excepl where specifications or standards are contained elsewhere in this Lease. These standards include security Improvements. Fire Protection and Life Safety requirements, ABMS CCJmpliance. as well as compliance with all local codes and ordinances. Pursuant to Paragraph 7 05. such acceptance by the Government of existing Premises shall not relieve Lessor of continuing obligations for cleaning, janitorlal, mainlenance, repair, etc. as set forth in the Lease paragraphs and attached General Clauses.
The Premises are descflbed as follows:
A Office and Related Soace: 8,790 rijntable square feet {RSF), yielding 8,000 ANSl/BOMA Office Area (ABOA} squara feet (SF} of office and related Space located on part of the 4th floor, of the Building, as depicted en the floor plan attad1ed hereto as Ex/\iblt A.
B. Common Area Factor: The Common Area Factor (CAF) Is established as 9 percent. This factor. which teptesents the conversion from ABOA to rentable square feet. rounded to the nearest whore percentage, shall be used for purposes of rental adjustments in accordance with the Payment Clause of the General G!auses.
1.02 EXPRESS APPURTENANT RIGHTS (SEP 2013)
The Government shall have the non-exclusive right to the use of Appurtenant Areas. and sllal! have the right to post Rules and Regulatlons Governing Conduct on Federal Property. lrtle 41 CFR. Part 102-74, Subpart C within such -areas. The Government wi ll eoordim1te with Le·ssor to ensure slgnage is consistent with Lessor's standards. Appurtenanl to the Premises and included in the Lease are rights to use the following:
A . ~: Twelve {12) parking spaces within one (1 ) bloek. of the Suildlng. In addillon, the Lessor shall provide such additional perl<lng spaces as required by the applicable code or the local government entity having jurisdiction over the Property.
B Anlennas. Satellite Dishes and Related Transmission Devices: (1) Space located on the roof of the Building sufficienl in size for the installation and placement of lelecommunicallons equipment, (2) lhe right le access the roof or the Building, and (3) use of all 8uildmg areas (e.g .. chases. p!enums, etc.) necessary for the use. operation, aod maintenance of such ~ele:::ommunications equipment at all times during the term of this Lease.
1.03 RENT AND OTHER CONSIDERATIONS (SEP 2013)
A. The Government shall pay the Lessor annual rent. payable In monthly installments In arrears. at the folfo1A1ng rates.
FIRM TERM NON FIRM TERM
ANNUAL RENT ANNUAL RENT
SHELLRENT1 $113,414.65 $122..907.85
:r-EW.N+~MPRGVEM~1 s..xxx-.xxx.xx ;;x,xx..xxx.xx OPERATING Cosrs' S54,302.15 SS4.302.15
Bl-lll91NGSPEGlfiC-AMOR-1'~ZEG-CAPITAL: tBSAGl• S-XXX.XXX.:XX $x;<~XX..XX
PARKING5 S0.00 so.co TOTAL ANNUAL RENT $167,716.80 $177,210.00
Shell reol cah;ulatoon {Erm Term) St2.90 per RSF mult1p:1ed by 8,790 RSF (Non Firm Term) $13.98 per RSF mulli~led by 8,790 RSF
~'.J'./«H'-e11an\.lmpR>Ver11e141-A11owaRG&4-$~e.;imGfliiEMJ-aHl-fate-0~<H111"peH"fl\rrr..ovel'X~ea1s. 'Operating Costs renl ca:culat1on $6.18 per RSF rnul~plied by 8,790 RSF •auildiAg~lic.AmQrtJZQO.Capikl4B~of$XX ar&·Amortiz-ed-.a~.a ra1e.of .l(..percent.per-a.r11111~0\181..1CX-year& 5Parking costs descnbed under sub-paragraph H tlalow
ln-iBSt&nG&&-Wner&-th~~izes-either-th&-4+.Gf-SSAC-f~peri~G~ding-tile-Flrm-Term-0f.· lhe-Leas&.-.should-lll&-GevefM',eqt.terrninate the-L-eas&-a~e-f:irm-:f'-&tR'Hl~oes-not-otheFWise-ra~xtenO-lhe-lerm-beyooG-tRe-Firm-i:erm,-lhe Govemmeot.•hall~o~liab~fer-11nyoosts, inGluclmg-1mamortRed-oo&ts-beyo~&4'~t~rm,.
B. ReRt-is-6UbjeGl-to-adjustmeflt-basacklpeP~uwal-or.-&~e-mea&11R3meflt-of-the-Spaoo-upon .aooeptana&:-not-tEHixseechXX-ABOA-SP·l>ased upoo~hG-mell'*ldolog'f<>Utllr.ecklnder-~he-·~payment"~lause-of GSA-Fotm-3~ c ---Rent-iwubjeGl-twdjus4me1l1-based-upon--tha-fmal-T~F1anl-lmpf&VemeAt-fi=l}--GOSHo-be-amortizee ~A · the-renlat..r.al&.- as-agreeG-opGA-9'f-!Jle paFlleHubseijueA~e>-tl'l&-L-ease-Awaro.Gat&-
GSA FORM L202 (09/14)LEASE NO. GS.-02P-LNY24262, PAGE 1
D. Rent is s119jest te adj11slffieFfl eased eA !!:le liAal 811lldiA9 Spesifis .llMieMed Capital (88.1\C) sest le 99 amel'tiled in the reAlal rate, as agFeeEI 11peA ey lfle pai:ties s11esequeAI te the bease JI.ward Date.
E. If the Government occupies the Premises for less than a full calendar month, then rent shall be prorated based on the actual number of days of occupancy for that month.
F. Rent shall be paid to Lessor by electronic funds transfer in accordance with the provisions of the General Clauses. Rent shall be payable to the Payee designated In the Lessor's Central Contractor Registration (CCR), now the System for Award Management (SAM). If the payee is different from the Lessor, both payee and Lessor must be registered in SAM.
G. Lessor shall provide to the Government, In exchange for the payment of rental and other specified consideration, the following:
1. The leasehold interest in the Property described in the paragraph entitled "The Premises."
2. All costs, expenses and fees to perform the work required for acceptance of the Premises in accordance with this Lease, including all costs for labor. materials. and equipment, professional fees. contractor fees. attorney fees. permit fees. inspection fees, and similar such fees. and all related expenses.
3. Performance or satisfaction of all other obligations set forth in this Lease; and all services, utilities. and maintenance required for the proper operation of the Property, the Building, and the Premises in accordance with the terms of the Lease. including, but not limited to, all inspections, modifications. repairs. replacements, and improvements required to be made thereto to meet the requirements of this Lease.
3. Performance or satisfaction of all other obligations set forth in this Lease; and all services, utilities ('.•.1th the e11st11sien ef XX), maintenance required for the proper operation of the Property, the Building, and the Leased Premises, in accordance with the terms of the Lease, including, but not limited to, all inspections, modifications, repairs, replacements and improvements required to be made thereto to meet the requirements of this Lease. +fle.GGi.lemment shall-be respeA&i91e for payiRg the sesl ef X.X4ireGtly te the utllity pre'lider. The lesser shall ensblre that s11sh 11tililles are separately metereEI. The lesser shall preYlde aAd install as p3R ef shell reAI, separate meters fer bltililies. 8119 meleFS are Rel asseptal:lle. The besser shall f\imish iA vlfitiAg le the bCO, prier le eswpansy l:ly tl:le Gel/9mmeAI, a reserd ef the meter n11ml:lera and verifisalieA that the meters measblre GevemFRent usage enly. Preratien is net 1l9i:missiele. In additian, an ablt&FRalis seAtrel system sl:lall ee previded le assure GGFR~iAg;-ventilaUen, anEI air senditiening reqbllrements.
H. Parking shall be provided at a rate of $0.00 per parking space per month (slfustwredtinside). anEI $XX per pa*lng spa69 per meAll:l (s1.1rfasel~utsille).
1.04 BRQj(ER COMMISSION •11.ND COMMl&SION CR6DIT (JUN 2012)
.t\. (N8C2 ilr~er Name] (Breker) is tl=le cwtl:lerized real estate Braker represenliAg GSA in senneGtieA will=! tl:lls bease lransaGllen. Tl:le letal aFRe11At ef tl=le CeFRFRissien is $XX aAd is eame~en bease exeGlltieA, payal:lle asset'Ging le !tie Cemmissien Agreement signed l:lelWeen tt:ie twe parties. Only $XX ef ll:le CammissieA, will be payal:lle ta (NBC2 Breker Name] v.1th tl:le remaining SXX, wl=lisl:l is IJ:le CemmissieA Credit, le 9e sredil!MI te lfle sl:lell FeAtal pei:tien ef tl:le annwal rental payments d11e anll awing te fl.illy resapl11re tl:lis Cemmissien Credit. The red1.1GtieA in sl:lell rent shall semFReAse witl:l ll:le fi15t meAtl:l ef ll:le rental payments aA9 seAtinue 11ntil tl:le sredit !:las 9eeA fi:llly resapt11red in eE1blal FR&Atl=lly IA&tallmenls &'ler tl=le sl:leFtest liFRe praslisal:lle.
Q. ~lelWitl:lstaAdiAg tl=le "ReAt anll Otl:ler CeAsideratieA" paragrapl:l ef this bease, tRe sl:lell Fenlal payfflents llwe and &Wing 1.1nder ll:lis lease sl:lall l:le reE11.1sed te re63plure fi:llly this CeFRmissian CreElil. The red11stien in sl:lell rent sl:lall semmeA&e witl:l tl:le lirat meAtl:l ef U=le reAtal payfflenls and seAtimie as inlliGated iA lflis ssl:led11le fer a~11sted Menthly Rent:
Manti=! X Rental PayFRent $XX1XXX miAus praralell Cammissien Credit af $X.X1XXX eq1.1als $XX1XXX a~1:1sted-x-8' MeAl.h's Rent.•
MeAlfl X ReAtal Payment $X.X1XXX miAus prarated CemmissieA Credit af $XX1X.XX eq1.1als $XX1XXX a~blsted x6 Menll:l's ReAI. •
Menll:l X Rental Payfflent $XX1XXX mlnws prarated Cemrnissien Credit af $XX1XXX eeiwals $XX1XXX a~usteEI X ... Menll:l's ReAt.* *Sul:ljest te shaAge eased &A adj11stments ewlllneEI 11AEler the paragrapl:l "Rent anEI Oll:ler CeAsiEleratian."
1.05 TERMINATION RIGHTS (AUG 2011)
The Government may terminate this Lease, in whole or in part. at any time effective after the Firm Term of this Lease, by providing not less than 120 calendar days' prior written notice to the Lessor. The effective date of the termination shall be the day following the expiration of the required notice period or the termination date set forth in the notice, whichever is later. No rental shall accrue after the effective date of termination.
1.06 RiNi!NM. RIGMTS (SiP 2~
OPERA"mlG COSTS OPERATl~JC COST BASIS 6111'.tl cm1TIM:IE
LEASE NO. GS..2P-LNY2426Z PAGE 2 GSA FORM L202 (09/14) LESSOR~VERNMENT'~
• IFROM 1'1 IE ~FFECTIVE YEAR OF THE LEASE. OPTION TERM IS SblBdEGT TO cmrm1U1~1c NIPlllM. AOJblSTMENTS.
pFevieed Relise is gi\leR le tt:te LesseF at least XX days eefeFe tt:te eRd ef tt:te eFigiRal Lease tei:m, all ett:teF tei:ms aREl seRElitieRS ef tt:tis bease, as same may t:ta..•e eeeR ameREleEl, st:tall FemaiRiR full feFGe and effest clurlng any renewal tei:m.
1.07 DOCUMENTS INCORPORATED IN THE LEASE(SEP 2013)
The following documents are attached to and made part of the Lease:
NO. OF DOCUMENT NAME PAGES EXHIBIT
FLOOR PLAN($) 1 A 0 ~.
SEGblRIT¥ REQbHREME•lfS
AGEl'IGY SPEGIAGISPEGIAb REQbllREME'mi
SEGblRIT¥ U"IT PRIGE blST
GSA FORM 35178 GENERAL CLAUSES
GSA FORM 3518, REPRESENTATIONS ANO CERTIFICATIONS
Sw.1:1: BblSl•IESS SblBCO~~.CT"IG l=ll:A'I SEISMIG r;:onM G , lilbill:OIPIG RE;ROl=IT GR NEW
CON~b1G;10PI PRE AWAAO COMMITMEl'i:i:
bEASE .O.\!E•l9MEm(S} 166b1EO U•19ER Rbl=l A.ME•l9ME'i:i:
~
1.08 l&NANT IMPRO" EMliNT R6NTAl. AC.IUSTMiNT (SUCCEEDING} (SiP ~013)
The ce..•er.uJ1ent may eleGt te make lump s1:1m payments fer any er all we* se•Jeree 9y IJ:le Tenant lmpre\lement (Tl) ssepe. That peFlieR ef tt:te rental paymeRts altFiln1taele te ameRi;!atien ef IJ:le Tis sl=lall Ile recl11sea asserGiR!Jly. At any time after ess1:1pansy aREl EluFiR!J tl=le fii:m teFFJI er tl=le bease, IJ:le Ce\lernmeRI. at its sale dissrelieR, Alay elest le pay luAlp s1.1m for any paFI er all ef tt:te reAlainiR!J 14Rpaia ameFlizeEI ealaRse er tRe Tis, If tl=le Ce\lemmeRt elests te Alake a ltJAlp sum paymeRt fer tl=le Tis after essupansy, tl=le payment ay tl=le GevernmeRt .,.,qu res1:1lt iR a Elesrease in tl=le reRt assercliR!J te tl'le amertizatien rate O\ler tt:le remalniRg FiFm Tei:m ef IJ:le Lease.
1.09 BUll. QING SPiCIFIC AMORTI.lEO CAPITAL. (SEP ~01~)
Fer purposes ef lhis Lease. tt:le Bbiilding SpeGifiG AmeFlizee Capital (BS.o.q is $XX.XX per A.BOA SF, The Lesser v.111 make tRe total BSAC a1J101.1Rt a\lailaele to tt:le CevernmeRt. ·IA:list:l will 1.1se tRe fuRes fer ses1:1Fity related imprevements. This ame1.1nt is amortizes iR the reAI e•1er the r;:11m Tei:m ef tRis lease at an aRRYal interesl rate 9f X perseRt.
1.10 iUlbDING SPECIFIC AMORTIZ&D CAPITAb R&NTAL. .O.D.IUSTMl!NT (Sl!P 2013)
A. Tt:le Government, at its sole dis~llen , shall make all ElesisieRs aae1.1t the 1.1se ef tt:le BYildiR!J Spesifis ,!\fJ!eFlizeEI Capital (BS.'\C}. The Ge\10rnment may 1:1se all er pall of tRe BSAC. Tl:te GO'JeR'lrnent may ret11m to tt:le besser aRy 1.1R1.1sed JlOFlieR of the BSAG in 9*Gt:laRge fer a eesrease in reRI ~.'4=1ere applisallle) aeserGiAg te tt:le agreed 1.1pen amertizalien rate 0\19r tAe Firm TeFFJI.
B. Tt:le Ce\lemment may elest to make l1.1mp s1:1m paymoots fer any work severed ay tt:le BSAC. Tt:le part of tl'le BSAC arnertized iA tt:le reRt st:lall ae redllsecl asser-EliRgly. At any time after ess1:1paRsy aRd dYFiRg tt:le Fii:m Tei:m ef tt:le Lease, tt:le Ge\<emmeRI, at lls sele eissretien. may elest to pay a l1.1mp s1:1m fer aRy paFI er all er tRe remaiRiR!J YRpaie arneFli~e llalanse ef tAe BSAC. If tRe Cevernme11t elests le Alake a IYFRp SYFR paymeRt fer lt:le QS'\C after eoo1:1paniry'. IJ:le payment ef tt:le BSAC ey tRe Ge•Jemment \tAll res1:11t iR a eesrease IA the reRt asserGiRS le tt:le arneRizalieR rate e'ler tt:le FiFFJI Tei:m of tt:le Lease.
C. If it Is antisipatee tt:lat tt:le CeverRAlenl will speRcl rnere tt:laR tt:le BSl\C ideRtifiecl aaeve. tt:le Ge•JernmeAt may eleGt le:
1. Reeuse tRe ses1.1Fity se1.1Rtei:meas1:1re re~YiremeRts;
2. Pay a hm~p e1:1m fer tRe ameYRI average l:IJlOR s1.1astantial sempletleR iR asserElaRGe witR IAe ·.a.sseptaRse ef Spase and CeFtifisate er Gss1.1paRsy" paragrapt:l; er
3. Ne9etiate aA iAsrease in tl=le rent.
1.11 PERCENTAGE OF OCCUPANCY FOR TAX ADJUSTMENT (JUN 201 2)
As of the Lease Award Date. the Government's Percentage of Occupancy, as defined in the "Real Estate Tax Adjustment• paragraph of this Lease is 3.20 percent. The Percentage of Occupancy is derived by dividing the tolal Government Space of 8,790 RSF by the total Building space of 268,000 RSF.
1.12 REAL ESTATE TAX BASE (SEP 2013)
LEASE NO. GS-02P-LNY24262, PAGE 3 GSA FORM L202 (09/14) l£SSO~OVERNMEN-r,~
The Real Estate Tax Base, as defined in the Real Estate Tax Adjustment paragraph of the Lease is the unadjusted Real Estate Taxes for the first full Tax Year following the commencement of the Lease term. If the Real Estate Taxes for that Tax Year are not based upon a Full Assessment of the Property, then the Real Estate Tax Base shall be the Unadjusted Real Estate Taxes for the Property for the first full Tax Year for which the Real Estate Taxes are based upon a Full Assessment. Tax adjustments shall not occur until the tax year following lease commencement has passed.
1.13 OPERATING COST BASE (SEP 2013)
The parties agree, for the purpose of applying the paragraph titled "Operating Costs Adjustment." that the Lessor's base rate for operating costs shall be $6.18 per RSF ($54,302.15/annum).
1.14 RATE FOR ADJUSTMENT FOR VACANT LEASED PREMISES (SEP 2013)
In accordance with the paragraph entitled "Adjustment for Vacant Premises• if the Government fails to occupy or vacates the entire or any portion of the Premises prior to expiration of the term of the Lease, the operating costs paid by the Government as part of the rent shall be reduced by $1.10 per ABOA SF of Space vacated by the Government.
1.15 HOURLY OVERTIME HVAC RATES (AUG 2011)
There shall be no overtime charge for HVAC beyond the Government's nonnal business hours.
+Re mll9"JiAg rates sllall apply iR !Re awlisatieR ef tile paragraf)R tillea "Overtime HVAC lJs39e:·
$X.XX fl8F RaYF f)ef laRe Number ehaAes: X $X.XX filer R8UF wr IRe eRUre Sf)a&e.
1.16 24 MOUR MVAC Ri!QUIREMSNT (SEP 2014)
A 6... __ , ,QQ,t., SF ef tl=le Sfla&e shall reseiYe seeliAg at all-tiFAes (24 l=lrs a day, 36€1 days a year) mr 13urpases af seeliRg tl=le Elesi§Aaled server reem. Tt.:ie BTlJ e1:1lp1o1t ef this ream is eslablist.:iec:l as ___ QTlJ. Tl=le teFAperat1o1re ef this raaFA st:lall be FAaiRlaiReEI al ___ degrees F, l/Jilt:l Rl:JFAidily saAlr-el Rel la S*seed 9Q% relati•Je l=luFAiElily, regardless ef eul&iEle lemperaaire er seasaAal ~ar:iges.
B. 'R:le 24 l=laur seeliRg seFllise shall be pre"4!led ~ the Lesser at aA aARual i:ate ef SX.XX per ,f!.BOA SF ef tl=le area reseivlAg ll=le 24 t.:ieur seeliAg aAd is Rel le be iAsluded iR tl=le FAeRthly aflQraliRg sests. /\Isa, tl=le l=lauA)< avertiFAe MlJl>.G rate &filesifiea l:JRder IJ:le paragrapt;i 'Hel>f1y Overtime MlJ,'\G Rates" shall Ret a13ply te aRy pertiaR ef tl=le Premises lt.:iat is reE11o1i1eEl le Ra'le 24 "101:Jr saelir:ig.
c. TRe Lesser sMll suemit meAtt.:ily iR110ise&, iR aA'ears, fer tt.:ii& sasl le tRe bGO er IAe bGO's ElesigRated rapreseAtali'.10 at the address l:lelew.
E>. NelvAIRstaAElir:ig the feregair:ig. besser shall previEle tRis seFllise at Ra aEIElitiaAal sast te !fie GevemFAeRt if the bessar previEles lRis seFllise te athe< tenaRts iR tf:le 91:JilEliRg at Ra aElElitieRal &Rarga.
1.17 lilYlbOING IMPROVEMliNTS (8iP ~
Qefare tl=le G9¥eFAFAeAt assepts !Re Spase, !Re bessar shall samplele the feAau4r:ig aEIElitiaAal 81:1ilElir:ig iFAfll'e'AlFA0Rts flFiar ta aooeptaAse af the S~se:
LEASE NO. GS-02P·LNY24262, PAGE 4 GSA FORM L202 (09/14)LESSO~VERNMEN°"~~